Well the inevitable has happened and the last member state of Euroland has voted no to the EU fund bailout meaning that the measures proposed by France and Germany cannot be put in place.
This could mean that countries like Greece and later on Portugal, Ireland and Spain may default on their debt which will in turn lead to a collapse of the Euro and a deeper recession than the one we have right now. The proposal is being taken back to the Slovakian Parliament end of the week so that they can have another go. The signs are all there the system is obviously not working and something better needs to be put in place.
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